Maritime Executive Warns High Import Duties Are Stifling Investment in New Vessels
The Chairman of Bras Marine and Yacht Services Limited, Yomi Sonuga, has strongly criticized the imposition of duties as high as 100 percent on imported boats, asserting that such policies are stifling investment in new vessels and pushing Nigerians toward purchasing used ones from abroad. Sonuga argued that persistent policy bottlenecks and a lack of fiscal support continue to hinder the growth of Nigeria's waterways transportation sector, despite its vast untapped potential for commercial and mass transit.
Excessive Duties Discourage Investors and Limit Technology Access
According to Sonuga, excessive import duties not only discourage potential investors but also severely limit access to modern marine technology, thereby undermining safety and efficiency across the industry. "We keep explaining to the government that charging 100 percent duty on new boats will only encourage people to import used ones. Why are we doing this? They don’t seem to understand," he lamented. He noted a poor appreciation of water transportation among some policymakers, who often misunderstand the sector as being limited to tourism rather than recognizing it as a viable means of reducing movement costs, lowering carbon emissions, and alleviating road traffic congestion, especially in densely populated cities like Lagos.
Modern Vessels Key to Building Confidence and Expanding Routes
Highlighting the critical role of modern vessels in boosting confidence, Sonuga pointed out that exposure to high-quality yachts could inspire more Nigerians to invest in marine transport. He cited premium boat brands such as Sea Ray, known for their durability and safety features, which are essential for building trust among users. Additionally, he noted that some of these vessels are capable of long-distance travel, with yacht-certified boats able to operate routes from Lagos to Port Harcourt and even to neighboring Cotonou for short trips, showcasing the sector's potential for expansion.
Infrastructure Challenges and Calls for Government Support
Despite these challenges, Sonuga expressed optimism about the future of the sector, particularly with ongoing infrastructure improvements in Lagos State. However, he urgently called on the Federal Government to create a more enabling business environment to unlock the full potential of water transportation in Nigeria. Echoing this sentiment, the Managing Director of Bras Marine and Yacht Services Limited, Austin Apkovili, underscored the company's commitment to integrity and customer-focused service as it celebrates 40 years of operations in Nigeria's maritime sector.
Company Resilience and Infrastructure Deficiencies Highlighted
Apkovili stated that surviving four decades in Nigeria's challenging business environment reflects resilience, trust, and adherence to strong ethical standards. He emphasized that the company's approach to service delivery sets it apart, prioritizing transparency and consistency in all dealings with clients. Apkovili also highlighted the firm's flexibility, such as providing temporary docking space for a client who lacked a facility to berth a newly purchased boat. However, he decried the poor state of docking infrastructure in the country, noting that many existing facilities fall short of international standards. "Most of the docking facilities are not up to the standard they should be. Ideally, you should be able to park your boat, have your car right behind it, relax, and enjoy the environment," he said.
Urgent Need for Investment in Marine Facilities
Drawing comparisons with practices abroad, Apkovili described a more developed boating culture where families integrate leisure with marine activities. He added that such a lifestyle remains largely underdeveloped in Nigeria due to significant infrastructural gaps, urging greater investment in marine facilities to fully unlock the sector's potential. Both executives stressed that without policy reforms and improved infrastructure, Nigeria risks missing out on the economic and environmental benefits of a robust water transportation system.
